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Bankrupt crypto lender Genesis and its parent company, Digital Currency Group (DCG), has struck a deal that could end an ongoing lawsuit to claw back $620 million in repayments from DCG. In a Nov. 28 filing to a New York Bankruptcy Court, Genesis said DCG agreed to pay its outstanding $324.5
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Creditors of Mt. Gox, a now-defunct Bitcoin (BTC) exchange that lost 850,000 BTC to a hack in 2014, have reportedly received a new email hinting at soon-to-come repayments.Nobuaki Kobayashi, the trustee overseeing the Mt. Gox Bitcoin exchange’s estate, on Nov. 21, started sending out emails to rehabilitation creditors regarding the commencement
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The trustee cited the need for additional time to facilitate the rehabilitation process. Defunct cryptocurrency exchange Mt. Gox has yet again postponed its repayment deadline by one year. This significant development was confirmed in a letter shared by Nobuaki Kobayashi, the trustee responsible for overseeing the rehabilitation of the exchange. Initially slated
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“We still believe that the chances of further declines are higher for now,” one analyst said. Source
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The defunct crypto exchange has delayed the deadline for repayments to Oct. 31, 2024. Source
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Mt. Gox trustee Nobuaki Kobayashi has officially changed the deadline for paying back the exchanges' creditors from Oct. 31, 2023, to Oct. 31, 2024.In a Sept. 21 letter, Kobayashi wrote that with permission of the Tokyo District Court, he had extended the deadline for the base repayment, the early lump-sum repayment
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Digital Currency Group (DCG), the parent company of the insolvent crypto lending firm Genesis, is pushing for a repayment plan for its creditors, which includes participants in the Gemini Trust Co.’s Earn program. In a filing on Wednesday, Sep. 12, DCG assured Gemini Earn program investors that they could potentially receive
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While the cryptocurrency community is actively discussing the upcoming Bitcoin (BTC) halving in 2024, there is potentially another big market event happening this year.The trustee of the hacked Bitcoin exchange Mt. Gox is set to finally repay the exchange’s creditors by the end of October 2023. If that happens, the
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Gemini co-founder Cameron Winklevoss has proposed a final offer, mandating Digital Currency Group’s (DCG) Barry Silbert and his embattled company to start reimbursing Gemini Earn creditors by July 21 or face a lawsuit. There appears to be
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The regulator asserted its claims should be counted as part of "general unsecured claims" in the ongoing Chapter 11 bankruptcy proceedings, but agreed to forego the payment "in order to maximize the amount that may be distributed to investors and avoid delay in such distribution," according to the agreement reached
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